Fairfield Connecticut Building Expert Directory

Blackstone to Buy Cosmopolitan Resort for $1.73 Billion

May 19, 2014 — Hui-yong Yu – Bloomberg
Deutsche Bank AG (DBK) agreed to sell the Cosmopolitan of Las Vegas hotel and casino to Blackstone Group LP (BX) for $1.73 billion in cash, ending a six-year money-losing venture into casino development. “The bank is committed to reducing its non-core legacy positions in a capital-efficient manner which benefits shareholders,” Pius Sprenger, head of the Frankfurt-based lender’s non-core operations unit, said in a statement today. The division is selling and winding down assets that Deutsche Bank doesn’t consider to be central to its business. Germany’s largest lender foreclosed on the Cosmopolitan after developer Ian Bruce Eichner defaulted on a construction loan in January 2008, and has labeled it a temporary investment. The company was seeking more than $2 billion for the property, a person familiar with the situation said last month. Two others said it was valued at closer to $1.5 billion. Read the court decision
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Reprinted courtesy of Hui-yong Yu, Bloomberg
Hui-yong Yu may be contacted at hyu@bloomberg.net

Winners Announced in Seattle’s Office-to-Residential Call for Ideas Contest

July 10, 2023 — Ryanne Mathisen - Ahlers Cressman & Sleight PLLC
On June 7, 2023, the City of Seattle announced three winners of its Office to Residential: Call for Ideas contest for which it received a total of 13 submissions. Hybrid Architecture, LLC, took first place; Gensler, Seattle Office Project Team took second; and the Miller Hull Partnership took third. Seattle’s Department of Construction and Inspections will study the submissions and determine what legislative and regulatory modifications would be necessary to support and further these proposals and other future office-to-residential conversion projects. Seattle will also be holding a series of exhibitions over the coming weeks where project submissions will be available to the public. On June 14, 2023, from 5:30 PM to 7:30 PM, a reception will be hosted by the Seattle Architecture Foundation and the City at the American Institute of Architects. The gallery will also be open to the public from 10:00 AM to 5:00 PM on June 21, 28, and July 5. After June 14, 2023, those interested can access contest submissions at the project website. Seattle’s primary goal with this contest was to provide a vision for the future of downtown and begin charting a concrete path to getting there. Since working from home has become more common following the COVID-19 pandemic, vacancy rates in many office buildings have risen sharply, while housing availability and affordability remain ongoing issues. If Seattle can show a realistic—and profitable—path to converting commercial office spaces into residences, it would be addressing both problems, killing two birds with one stone. Read the court decision
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Reprinted courtesy of Ryanne Mathisen, Ahlers Cressman & Sleight PLLC
Ms. Mathisen may be contacted at ryanne.mathisen@acslawyers.com

California Imposes New Disabled Access Obligations on Commercial Property Owners

October 07, 2016 — Garret Murai – California Construction Law Blog
The following article was written by my colleague David Goldman on the new ADA accessibility legislation which was signed into law this past month by Governor Brown. Since July 1, 2013, California Civil Code section 1938 has required commercial property owners to disclose in every commercial lease whether the property being leased has been inspected by a Certified Access Specialist (“CASp”). A CASp is an individual certified by the State of California as qualified and knowledgeable of construction-related access to public accommodations by persons with disabilities. In addition to disclosing whether or not the property being leased has been CASp inspected, if a CASp inspection has occurred, the commercial lessor must disclose in the lease whether the premises has or has not met all the applicable construction-related accessibility standards established by law. These lease requirements, along with other disability access obligations, were discussed in an earlier article written in 2012. Read the court decision
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Reprinted courtesy of Garret Murai, Wendel, Rosen, Black & Dean LLP
Mr. Murai may be contacted at gmurai@wendel.com

Specific Performance of an Option Contract to Purchase Real Property is Barred Absent Agreement on All Material Terms

December 20, 2017 — Richard H. Herold - Real Estate Litigation Blog
On November 14, 2017, the Court of Appeals (Division 1), in Offerman v. Granada, LLC, 2017 WL 5352664, reversed a trial court order directing specific performance of an alleged option to purchase real property, holding that the alleged option was too indefinite to be specifically performed because the parties did not agree to all of the material terms of the option. Tenant-Purchaser Offerman executed a two-year lease with Landlord-Seller Granada, which granted Offerman “the option to purchase [the] property…for a sales price to be determined at that time by an independent appraiser acceptable to both Tenant and Landlord. (Terms and Conditions to be stipulated by both parties at such time).” (emphasis added). Offerman timely advised Granada he intended to exercise the option, asked Granada to name an appraiser, and, when Granada did not respond, Offerman tendered a $240,000 appraisal to exercise the option. Granada did not retain an appraiser but instead simply demanded $350,000 to close the sale. After a bench trial, the Court determined that Offerman was entitled to specific performance, and, as the parties had not agreed to certain terms, held a second evidentiary hearing to resolve the form of judgment, therein naming a title agency to handle the escrow, setting a closing date, allocating the transaction fees between the parties, and ordering Granada to pay for the property inspection. Read the court decision
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Reprinted courtesy of Richard H. Herold, Snell & Wilmer
Mr. Herold may be contacted at rherold@swlaw.com

Congratulations to Haight’s 2019 Northern California Super Lawyers

August 06, 2019 — Steven M. Cvitanovic - Haight Brown & Bonesteel LLP
Haight congratulates San Francisco Partner Steven M. Cvitanovic who has been selected to the 2019 Northern California Super Lawyers list. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. Read the court decision
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Reprinted courtesy of Steven M. Cvitanovic, Haight Brown & Bonesteel LLP
Mr. Cvitanovic may be contacted at scvitanovic@hbblaw.com

Lawyer Claims HOA Scam Mastermind Bribed Politicians

June 28, 2013 — CDJ STAFF
The lawyer defending one of the accused in the Las Vegas HOA scam is now claiming that the FBI investigated bribery of public officials. Chris Rasmussen represents Edith Gillespie, the half-sister of Leon Benzer. Benzer has been accused of being one of the masterminds behind the scheme to pack homeowner boards with members who would make construction defect settlements that were beneficial to the scam’s participants. Rasmussen is trying to get his client tried separately from her half-brother. Rasmussen did not name any public officials. The Justice Department did not comment on his claims. Read the court decision
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Meet BWBO’s 2024 San Diego Super Lawyers Rising Stars!

April 29, 2024 — Bremer Whyte Brown & O'Meara LLP
BWB&O is proud to announce San Diego Partner Johnpaul Salem, and Associates Christina Matian and Angelo Perillo have been selected in the 2024 San Diego Super Lawyers list as Rising Stars for their work in Civil and Personal Injury Litigation. To read Super Lawyers’ digital publication, please click here. SELECTED AS RISING STARS Johnpaul Salem: 2023-2024 Christina Matian: 2024 Angelo Perillo: 2024 Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The objective of Super Lawyers’ patented multiphase selection process is to create a credible, comprehensive, and diverse listing of outstanding attorneys that can be used as a resource for attorneys and consumers searching for legal counsel. Read the court decision
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Reprinted courtesy of Bremer Whyte Brown & O'Meara LLP

Insurance and Your Roof

November 13, 2013 — CDJ STAFF
Those seeking home insurance should look up. Bankrate points out that the type of roof a home has can affect how much it costs to insure it. “The roof is the first layer that wind, hail, wildfire and other hazards really begin to act on,” Tim Reinhold, the chief engineer at the Insurance Institute for Business and Home Safety, told the site. For insurers, the most problematic roof type is probably wood shakes. “Some companies won’t even insure certain roof types, such as wood shakes, in high fire-risk areas,” said Robert Hunter, the director of insurance for the Consumer Federation of America. Not that other roof types are problem-free. Metal roofs can corrode, particularly when two different metals touch. Shingles age more quickly than other roof types, becoming brittle, and they can blow off in high winds. Tile roofs are expensive, something insurers are guaranteed to factor into the insurance rates. Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES